What Might Cause a Supply Function to Shift to the Left

question 50

Multiple Choice

What might cause a supply function to shift to the left today?

• A)An increase in the product's own price.
• B)An expectation that the product's price will fall in the future.
• C)An expectation that the product's price will rise in the future.
• D)A decrease in the price of one of the inputs to making the product.

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Definitions:

Property Rights

Legal rights to possess, use, and dispose of assets including real property (land and buildings) and intellectual property.

Sustainable Rate

The level of output or activity that can be maintained over the long term without depleting resources or causing environmental or economic damage.

ITQs

Individual Transferable Quotas, a system in environmental policy to regulate typically renewable resources by allocating rights, which can be traded, to entities for harvesting these resources.

Sockeye Salmon

A species of salmon found in the Pacific Ocean, known for its red flesh and significant value to both commercial and recreational fisheries.